Quality and Compliance Management Solution Market

Quality and Compliance Management Solution Market Growth Outlook 2024 to 2034

In the updated edition of the quality and compliance management solution market report, FMI finds growth prospects to grow from USD 29,173.60 million in 2024 to USD 70,791.70 million by 2034, as per the latest market projections. These market valuations indicate a CAGR of 9.30% over the estimated period.

Attributes	Key Insights
Estimated Quality and Compliance Management Solution Market Size (2024E)	USD 29,173.60 million
Quality and Compliance Management Solution Market Forecast Valuation (2034F)	USD 70,791.70 million
Value-based CAGR (2024 to 2034)	9.3%

Emerging Trends in the Quality and Compliance Management Solution Market

Demand for quality and compliance management solutions is rising among enterprises as it ensures adherence to industry regulations. Vendors of these solutions are leveraging technological advances in information technology and mobile applications by integrating mobility into their solutions. Further, a notable trend in the market is a rising shift toward a cloud implementation model.

Key players are focusing on updating their solutions to enhance end-user experience and increase the operational efficiency of the business. Another trend that is shifting tides in quality and compliance management solutions is data analytics. Key players are leveraging compliance advantages of data visibility in quality and compliance management solutions.

Easy and quick integration of quality and compliance management solutions with existing enterprise platforms or systems is increasing their demand. In addition to this, the growing demand for cost-effective and efficient solutions is fueling the QMS demand.

Constant upgrades in the system too are positively impacting the operations of businesses that have installed quality and compliance management solutions.

Category-wise Quality and Compliance Management Solution Industry Analysis

Document and Product Management Emerges as a Distinguished Module

Leading Module	Document and Product Management
Value Share (2024)	19.30%

In the quality and compliance management solution market, document and product management is a highly demanded module. Recent market statistics showcase that this segment is expected to seize a 19.30% share in 2024. Demand for document and product management is increasing among product managers to enhance their product management skills.

The relevance of quality and compliance management solutions is increasing as it is being used to enable alignment across an organization’s higher-level business strategy and product portfolio.

QMS Software to Hold Prominence in the Quality and Compliance Management Solution Market

Leading Material	QMS Software
Value Share (2024)	71.4%

Deployment of QMS software outpaces that of QMS services. In a recently updated market study of the quality and compliance management solution, QMS software is expected to gain a massive 71.40% in 2024.

Their demand is rising as regulated companies across the globe are demanding an effective way to manage their quality processes. QMS software is considered a strategic priority among enterprises. Their deployment appears to expand in the years ahead.

Global Quality and Compliance Management Solution Market Dynamics by Country

Countries	Forecast CAGR (2024 to 2034)
The United States	6.10%
Germany	4.70%
Japan	4.0%
China	9.80%
Australia	12.80%

Innovation is at its Peak in the United States as Companies Continue Developing Advanced QMS Solutions

Deployment of quality and compliance management solutions in the United States is set to rise at a CAGR of 6.10%, as per the latest market analysis by FMI analysts. Demand for this software is surging on account of rising startups in the IT and software domain. Further, growing requirement to comply with industry regulations among users is also creating an optimistic outlook for market players.

The development of advanced quality and compliance management solutions (QMS) in the United States is continuously expanding the possibilities of QMS software. IQVIA has recently developed SmartSolve eQMS to streamline quality compliance management.

The solution is purpose-built for life sciences. IQVIA enterprise quality management solution has a large user base as it helps ensure top-quality standards and provide real business impact.

Another key driver is the accelerating automation in enterprise risk management, which is raising the chances of cyber security risk. This is pushing the demand for quality and compliance management solutions and software in the United States.

QMS Solutions to Find Significant Applications in the Germany’s Medical Devices Industry to Ensure their Efficacy and Safety

The sales of quality and compliance management solutions in Germany have the potential to rise at a 4.7% CAGR in the next 10 years. The demand is driven by intensifying quality control in Germany’s medical device industry, due to the introduction of stricter regulations.

As a result, there is a growing demand for technology that enhances quality management software or systems among manufacturers as they look for ways to stay compliant.

The market is expected to become consolidated with increasing collaborations among industry players. For instance, in November 2023, Regnology, which is a software provider, announced its collaboration with Moody’s Analytics. With this collaboration, these two market leaders came together to provide a full end-to-end risk and regulatory reporting solution in certain global markets.

Both companies have moved to cloud-native solutions with configurable and modular services. Thus, allowing respective solutions to easily scale, and adapt to regulatory changes and future business, leveraging the latest innovations, such as AI-enabled services.

Increasing Business Complexities in Japan has Redefined Quality

Demand for quality and compliance management solutions in Japan is anticipated to progress at a CAGR of 4% over the forecast period.

The role of quality has moved beyond its compliance-focused function and it is now increasingly used as a strategic partner to the business. This is because quality helps bring new insights to boost agility.

In line with this, there is a growing demand for cloud-based QMS by companies of different sizes and types to enhance user's experience and help them respond quickly to market changes. This system is also gaining traction owing to its ability to empower quality teams to collaborate more effectively with external partners and across internal teams.

Growing Demand for Cloud QMS Solutions in China to Propel Rapid Growth

The quality and compliance management solution market in China is positioned to expand at an estimated CAGR of 9.8% over the forecast period. The market is driven by the increasing use of high-performance technologies. Additionally, rapid digitization among businesses and the rising adoption of cloud computing, IoT, and AI are all pushing the sales of quality and compliance management solutions in China.

Companies operating in various industries in China are rapidly switching from paper-based or hybrid quality management systems to cloud QMS solutions. This is going to accelerate the quality management process by reducing risks, achieving compliance, and improving product quality.

Key Players are Flocking to Australia Due to Considerable Potential for QMS Software and Solutions

Australia holds substantial potential for the quality and compliance management solution market. The country is set to record a CAGR of 12.80% over the following years.

Demand for quality and compliance management solutions is accelerating as they help boost business performance, improve customer satisfaction, and enhance strategic decision-making that increases the quality of the product and/or services.

Businesses in Australia are looking to elevate customer satisfaction, win more tenders, enhance business processes, and get ahead of the competition. Thus, creating an optimistic outlook for market providers of quality and compliance management solutions.

Competitive Landscape

Key players in the market are focused on delivering advanced QMS solutions in the market. The updated quality and compliance management solutions help businesses to raise their operational efficiency and diminish compliance costs. As a result, their demand is escalating across varied industries.

Other popular strategies used by market players include mergers and acquisitions, partnerships, and new product launches. Industry participants are constantly innovating their portfolios to stay ahead of their competitors in this competitive market. For this, they are developing groundbreaking end-to-end solutions for end-use industries.

Key players are focusing on developing cloud QMS solutions to meet the surging demand for cloud QMS solutions.

Stay Up-to-date with the Latest Advancements that Maneuver Market Growth

• In December 2023, Infor®, which is an industry cloud company, revealed that it forged a partnership with ETQ, which is a subsidiary of Hexagon, to enhance the solution ecosystem. Mainly, it caters to domains like life sciences, food and beverages, distribution, fashion, and chemicals enterprises that require top-class quality management and environmental, safety, and health solutions.
• In September 2023, Frost & Sullivan researched quality and compliance management solutions and services in the life sciences industry, and based on its analysis, awarded Verista with the 2023 Global Customer Value Leadership Award. The company is now recognized for its support to biotech, pharmaceutical, medical device, and Contract Development and Manufacturing Organizations (CDMOs).
• In December 2023, Materialise, which is a prominent provider of 3D planning and printing services facing the medical industry, launched Mimics Flow Case Management. This solution enables hospitals to track 3D printing and plan their workflow, thus ensuring that every step is quality-compliant.

Key Coverage in the Global Quality and Compliance Management Solution Market Research Report

• Adjacent Study of Regulatory Compliance Management Software Market, QMS Software Industry, Quality Assurance Software Market, Regulatory Compliance Solutions Market, and Compliance Management Software Market
• Segment-wise Analysis of Quality and Compliance Management Solution Market

Top Companies in the Quality and Compliance Management Solution Market

• Pilgrim Quality Solutions, Inc.
• MasterControl, Inc.
• Aras Corporation
• Arena Solutions, Inc.
• Sparta Systems, Inc.
• Hewlett-Packard Enterprise Co.
• Autodesk Inc.
• Parasoft Corporation
• Others

Quality and Compliance Management Solution Market by Categories

Different Modules Present in the QMS Market:

• Document and Product Management
• Quality Management
• Change Management
• Audit Management
• Governance and Compliance Management
• Supplier Management

Various Components of Quality and Compliance Management Solution:

• QMS Software
• QMS Services
  • Consulting Services
  • Managed Services

Varying Company Sizes Using QMS Solutions:

• Large Enterprises
• Small and Medium Enterprises

Implementation Model of QMS Solutions:

• On-premise QMS
• Cloud QMS

Industries Using QMS Solutions:

• QMS for Aerospace and Defense
• QMS for Automotive
• QMS for Consumer Goods and Retail
• QMS for Healthcare
  • Pharmaceuticals
  • Biopharmaceuticals
  • Diagnostic Lab
  • Blood and Tissue Banks
  • Clinical Research Organizations
  • Hospitals and Clinics
• QMS for ITES and Telecom
• Others

Different Markets for Quality and Compliance Management Solutions are:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Frequently Asked Questions

What is the Market Valuation of Quality and Compliance Management Solution Market as of 2024?

The quality and compliance management solution industry is set to enjoy a market valuation of USD 29,173.60 million in 2024.

What is the Projected Adoption Rate of Quality and Compliance Management Solution for the Years Between 2024 to 2034?

Quality and compliance management solution players are set to report a CAGR of 9.3% over the next 10 years.

How Much Revenue this Industry is Expected to Generate by 2034?

The market revenue is expected to shoot up to USD 70,791.70 million by 2034.

Which Component is Expected to Hold a Massive Share in the Quality and Compliance Management Solution Market?

QMS software is projected to account for a massive share of the quality and compliance management solution industry.

Which Country is Expected to Expand at a Greater Pace?

Australia is expected to register a rapid growth over the next decade.

Which Players in the Quality and Compliance Management Solution Industry are Influential?

Pilgrim Quality Solutions, Inc., MasterControl, Inc., and Aras Corporation are influential players in the quality and compliance management solution industry.